New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter I - Franchise and Certain Business Taxes
Subchapter I - Cigarette Tax, Cigarette Marketing Standards And Tobacco Products Tax
Article 1 - Cigarette Tax
Part 77 - Refunds And Redemptions Of Unused Stamps
Section 77.2 - Redemption of unused stamps

Universal Citation: 20 NY Comp Codes Rules and Regs § 77.2

Current through Register Vol. 46, No. 12, March 20, 2024

Tax Law, §§ 171, 475 and 476

(a) The Department of Taxation and Finance may redeem unused cigarette stamps lawfully in the possession of any person. Consequently, the department may buy back from licensed cigarette agents or former agents:

(1) unaffixed stamps for which the agent no longer has a need or is no longer qualified to affix;

(2) unaffixed stamps from the inventory of an agent in liquidation;

(3) unaffixed stamps which have been so damaged as to be worthless or unfit for use;

(4) unaffixed stamps which have been superseded by stamps of a newer design or denomination; or

(5) any other unaffixed stamps in similar instances where the department deems redemption appropriate.

With the exception of duly appointed or licensed fiscal agents or agent banks, no person shall sell or offer for sale to other than the department any stamp or stamps issued pursuant to article 20 of the Tax Law, except upon written permission of the Commissioner of Taxation and Finance.

(b) The Department of Taxation and Finance will redeem unused stamps for the actual amount of cigarette tax paid for such stamps provided an application for redemption is filed with the department within two years after the date that the unused stamps were purchased or within the time provided for in section 77.1(d)(2) of this Part. In no event shall an application for redemption be filed where cigarette tax stamps have been purchased on a credit basis pursuant to section 74.2(c) of this Title and where such stamps have not been paid for in full. All unused stamps for which an application for redemption is filed must accompany the application and such claim must be sent to the department by registered mail. However, where registered mail is not feasible because of the volume of the stamps to be redeemed, the department may arrange for receipt of the unused stamps in an alternative manner.

(c) If the Department of Taxation and Finance is satisfied that unused stamps should be redeemed, it may, subject to audit by the Comptroller, make a refund of the cigarette tax paid. No interest shall be paid by the department on such refunds.

Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.